Property prices and rents are not expected to stabilise this year in Dubai, according to a report by the Kuwaiti Global Investment House (GIH), cited by Khaleej Times.

Delays in the delivery of new projects continue to boost demand for existing property, which is leading to a steady appreciation in rents and prices. But GIH does not see rents to appreciate at the rate of earlier years, largely because of the 15 per cent rental cap imposed by the government last October.